Below are press releases from companies with preferred stock and/or baby bonds outstanding-or just news of general interest. News will be slow for the next 4-6 weeks until the 2nd quarter earnings season arrives.
Dime Community Bancshares Declares Quarterly Cash Dividend for Common Stock
DTE Energy Board of Directors declares quarterly dividend
Old National Receives BauerFinancial 5-Star Rating
CareCloud Announces Results from Annual Shareholder Meeting
XOMA Declares Quarterly Preferred Stock Dividends
Global Net Lease, Inc. Announces Preferred Stock Dividends
Ladder Announces Pricing of $500 Million Senior Notes Offering
FTAI Aviation Ltd. Announces Timing of Second Quarter 2024 Earnings and Conference Call
AM Best Upgrades Credit Ratings of Athene Holding Ltd. and Its Subsidiaries
Allstate Announces May 2024 Catastrophe Losses
Not sure how Old national bank got a five star rating when Florida college of business said they have a 320% CRE to equity exposure ? Now which “expert” analyst to believe?
Hello Charles – Good question and I don’t have an answer. I will say that the FAU report is from an academic who just looks at one metric (CRE/Equity) and doesn’t look at credit quality, percent of loans in arrears, size of the loans, etc. I think to get the full picture of any bank’s risk would be through a detailed analysis of each and every loan, balance sheet, and other metrics but we know that’s not possible.
The 5-star rating comes from a company where you can pay for the rating, so how legit is that?
A company like Old National has been around since the 1800s. You’d hope they know their local markets and haven’t gotten crazy with their loan underwriting and practices. Only time will tell….